Highest UK economic growth figures since 2010 expected

The UK economy is expected to have grown strongly in the first three months of 2014, rising by the highest level in almost four years.

Analysts say preliminary estimates from the Office for National Statistics, out on Tuesday, will show gross domestic product (GDP) grew by 0.9%.

That would mark the fifth consecutive period of GDP growth; the longest since before the financial crisis.

In the last quarter of 2013, GDP, which measures economic activity, grew 0.7%.

The encouraging GDP figures come after the Bank of England's revised its estimate of the UK's economic growth to 1% for the first quarter of 2014.

Earlier this month, the International Monetary Fund (IMF) said it expects the UK to be the best-performing of the world's largest economies in 2014, with growth of 2.9% for the year.

Rate rise?
This, along with a flurry of healthy economic statistics, is likely to fuel speculation that the Bank of England will raise its interest rate, which has been kept at a record low of 0.5%.

In addition to the growth in GDP, UK unemployment has now dropped below 7%, the threshold at which the Bank of England said last August it would consider raising interest rates.

Recent data from the ONS also revealed that weekly earnings had finally caught up with inflation, after six years of falling behind.

Last week, retail sales figures showed a rise of 4.2% compared with the year before.

The pound has also reached record peaks ahead of the GDP report, hitting a high of $1.6847 against the dollar on Monday.

http://www.bbc.co.uk/news/business-27192125


A winning formula for a General election, bring growth back, bring unemployment down and have the pound strong.


What ever your views on the Government this is good news.

As you know I'm no Conservative. However with growth like this the argument for risking it all with another government change weakens dramatically. Even though things aren't perfect now with things like zero-hours contracts, this is a good sign. Another year of growth between now and next May and this election may not be the foregone conclusion many thought it would be   

Sorry didge, but before the others come on, i'll say it for you:

"it's the wrong type of growth"

I think some of this lot have been brought up under Labour, where sorry became a daily occurrence which made everything ok, and "the wrong type of snow", "leaves on the line"   

Come on ladies, let's all be happy today - this is good news!

Eilzel wrote:As you know I'm no Conservative. However with growth like this the argument for risking it all with another government change weakens dramatically. Even though things aren't perfect now with things like zero-hours contracts, this is a good sign. Another year of growth between now and next May and this election may not be the foregone conclusion many thought it would be   

Morning Eilzel


Indeed, and it places also this nation in a better position to help reform the EU to me, which is what is needed.
It happens every time in a general election, people get all heated up over things like immigration, which does need to be controlled, but people always know where their bread is buttered and it is always with the economy.
Glad to see more people getting into work